HomeMy WebLinkAbout0502 . _ ~ _
~nall b~co:La ez~~ctive ~w:.ediately upcr~ t'ne ?^;appe7~ing of ariJ a~:ca default,
~~s determined in t_".E so~ e ai~cretion of zhe ~iort~agee, w'no ::nall give
r.otice of such daierWinution ~o the i~iart~agor; and in tY,e cGse of fore-
c~osure an3 tne appointment oz a receivzr of the ren~s, tiie wi~~iin cov- ~
anant shall inurz to the benefit o~ such receiver. ~
14. ~'he T~lortgagee i~ any act~on to foreclose this ~ior~gage sY:all
~z enti~ied to the ~ppo?niment o~ a receiver without notice, as a~atter j
of right and ~,~ithout reg~rd to the value of the mortg2ged property, or ?
-the s~lvency or ~nsolvency of the i~Iortgagor or other party ~.iable for ;
~ne payoen~ oi zhe ~ote and o~her indebtedness secured by this Mortgage.
15. ^re ~oa;or, ~•rithin ~zn (10} days upon request in person or
~v~thin twer.ty (20) days upon request by ~ail, will furnish ~ronptly a
~,:ritten s ~a;.emer. ~ in form savisiactory to the ~tortgagee, signed by the
:~:~rtgagor ar,d duly acknowledoed, of the anount then owing on the Note and
~ther i_r_deotednes_s__ secure3__b _ this__Mort a e,_an_d__whether _an~_ offsets_ or_ _ :
::efenses e~ist against such inciebtedness or any part thereof. ~
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16. Tae Yortgagor will give i~,mediate notice by registered or
certifie~ mail to the ;~:ortgaaee of any fire, damage or other casualty
aiiectiing Lne ~ortgaged uroperty, or of any co:~veyance, transfer or change
:r. ownership of sucn vroperty, or any part ~hereof.
17. ~~otice and de~and or request may be ~made in EJritir.g and may be
~erved in person or by mail.
18. In case o~ a foreclosure sale of the mortgaged property it may
oe sold in one ~arcel. ~
19. . The ~~iortgagor will not ~ssign the rents, if any, in whole or in ~
~art, from ~he mortgaged praperty, or any part thereof, wit'nout the prior
T.v r' tten consen ~ of the i~or ~~agee .
! 20. ~~e ~Ior~gaoor is lawful~y seized of the mortgaged pronerty and
:~as good righL, full ~o~,rer and lawful authority ta sell an~ convey the
! saae in the na~ner above provided, and will warrant and defend the sane
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~ ;,o tne Mortgagee iorever against t'r,e lawful claims and demands ~f any
~ ~.r3 all pa~ties cahazsoever.
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~ 21. ~ne P~Iort~;agor hereby waives the benefit of all homestead exemp-
~ ons as ~o tihe deb ~ secured by tris i~iortgage and as to any expenditure
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~ ~or insurar.ce, taxes, levies, assessments, dues or charges incurred by
~ ~~e Mortgagee ~ursuant to any provision of this ~Iortgage.
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~ ~his :~.ortgaoe and all tne covena, ts, agreements, ter~s anci cond?- •
~ ons ~-~e~ e~n co : ~a~nen saall be binding upon and inure to the benef it of '
- °:~.ort~a~or ~r.~ ~?:e heirs, iegal representatives and assigns of the
~ :~:~r~ga~a_, ann, ~a ~,ne exzent permittied by law, every subseouent owner of
~ ~^2 WO~~~G.~°C~ ~ir0:2rt ~
~ ~ y, ar,d shull be binding upon and inure to the benefit
~ tne ::;,rtoa~ee and its assigns. if the I~ortgagor, as defined her~ein,
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~.i lU~yz:, o_- ti~;~o or nore r~rties, this I~ortgage shall constitute a grant
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~ ~o'r~~G~e b;~ ~11 of them Jointly and severally, and they shall be obli-
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~ ~a~ed 'o_:'it~y ~:~:d ~everally under a11 tne provisions hereof and under the
~ _::,te. ~:~e word ~~~.or;.oagee" shall inclu~e any uerson, corporation or o~her
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